Trinseo to Acquire API Applicazioni Plastiche Industriali
Trinseo, a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, and API Applicazioni Plastiche Industriali S.p.A. have signed a definitive agreement for Trinseo to acquire API. The transaction is expected to close in the third quarter of 2017, following customary closing conditions. Trinseo is funding the purchase of API’s shares through its existing cash on hand.
“Trinseo’s first acquisition is directly aligned with the company strategy to grow the Performance Materials businesses and will benefit customers across a breadth of market applications and geographies,” said Chris Pappas, President and CEO of Trinseo. The transaction includes API’s manufacturing and research facility at Mussolente, Italy, and all of API’s business, employees and assets. The API management team and employees will join Trinseo’s Performance Plastics business.
“After 60 years of successful history, API today celebrates an important milestone,” said Lorenzo Brunetti, Vice President, son of Sergio Brunetti, the founder of API. "We see this transaction with Trinseo as the natural evolution of our long-standing experience, reputation, and flexibility in TPEs, now combining with the energy, stability and global presence of Trinseo." Customers of API and Trinseo can expect the combined Performance Plastics business to serve their applications needs with a broader product offering of soft-touch and rigid polymers, as well as new technology from API and the addition of strong talent with deep application knowledge.
Trinseo’s rigid plastics have a very strong position in automotive, medical and consumer markets. API’s soft-touch thermoplastic elastomer (TPE) products are often used together with rigid plastics in similar applications, so the combination of Trinseo and API will benefit customers. The potential for the combined product offering, as well Trinseo’s global presence to bring API products into new geographies, means that this portfolio of Performance Plastics will be an engine for growth in Trinseo, according to a press release.
A.P.I. Applicazioni Plastiche Industriale S.p.a.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.